Not For Profit Company

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Not For Profit Company

Not for Profit Company or Organization are the companies with the charitable objects. The Section 8 of the Companies Act 2013 provides the formation of the Not for Profit Companies. For registration of a Section 8 company in India, the process is similar to the process of incorporation of other companies except an additional license is required.

Salient Features

  • A Non for Profit Company includes the promotion of science, art, commerce, education, sports, research, charity, social welfare, religion, protection of environment or any such other objects in their objects.
  • In Not for Profit Company, if there are any profit, then it is used for the promotion of the objects.
  • Not for Profit Company contemplate to rule out the payment of any dividend to its members.

Pros

  • Not for Profit Company have various advantages as compared to the Trusts and Society such as improved recognition and better legal standing.
  • Not for Profit Company have higher credibility amongst the donors, Government departments and other stakeholders.

Cons

  • Not for Profit Company have to make sure that all the profits and all the other incomes are utilized only for the purpose of the promotion of its objects and not for any other purpose.
  • Not for Profit Company should also ensure that its profit should not be divided as dividend among its members.
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Process to Set up a Not For Profit Company

Packages:

Select from the following packages :

  • For Basic
    • 1. Incorporation
    • 2. PAN
    • 3. TAN
    • Rs. 32,999
  • For Standard
    • Basic +
    • 1. Income Tax Return
    • 2. First Year TDS F...
    • Rs. 43,999
  • For Premium
    • Basic + Standard +
    • 1. Auditors Appoint...
    • 2. Stationery Print...
    • 3. First Year Annua...
    • Rs. 49,999

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